Public Finance Management Act [Chapter 22:19] as amended as at 28 October 2016 “statutory fund” means any fund established by or under any enactment not including— (a) a fund established under section 18; or (b) a fund established by or for the purposes of a public entity which does not contain public money; “Treasury” means the Minister or any officer in the Treasury authorised by the Minister in writing to act on behalf of the Treasury; “Treasury bill” means a Treasury bill issued in pursuance of Part VI; “trustees”, in relation to a sinking fund, means trustees appointed in terms of section 75. 3 Object of Act The object of this Act is to secure transparency, accountability and sound management of the revenues, expenditure, assets and liabilities of any entity specified in section 4(1). 4 Application of Act (1) This Act, to the extent hereinafter indicated, shall apply to— (a) Ministries; and (b) designated corporate bodies and public entities; and (c) constitutional entities; and (d) statutory funds. (2) To the extent that a provision of this Act applies to Parliament, any controlling and supervisory functions of Treasury in terms of that provision shall be performed by the Speaker of the National Assembly. (3) In the event of any inconsistency between this Act and any other enactment, this Act shall prevail. 5 Amendments to this Act Proposed legislation directly or indirectly amending this Act, or providing for the enactment of subordinate legislation that may conflict with this Act, may be introduced in Parliament— (a) by the Minister only; or (b) only after the Minister has been consulted on the contents of the proposed legislation. PART II CONTROL AND MANAGEMENT OF PUBLIC RESOURCES 6 Treasury to manage and control public resources (1) The Treasury shall, subject to this Act and any other enactment— (a) manage the Consolidated Revenue Fund; (b) determine the manner in which public resources shall be accounted for; and (c) exercise a general direction and control over public resources. (2) The Treasury may by notice to officers concerned issue instructions or directions in terms of section 78 in relation to matters involving— (a) the collection, receipt, custody, control, issue or expenditure of public money; -9-